Principal Financial Group Inc. Sells 16,924 Shares of FormFactor, Inc. (NASDAQ:FORM)

Principal Financial Group Inc. reduced its stake in FormFactor, Inc. (NASDAQ:FORM - Free Report) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 366,631 shares of the semiconductor company's stock after selling 16,924 shares during the period. Principal Financial Group Inc. owned 0.47% of FormFactor worth $16,865,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Emerald Advisers LLC increased its position in FormFactor by 10.3% during the 3rd quarter. Emerald Advisers LLC now owns 604,724 shares of the semiconductor company's stock valued at $27,817,000 after purchasing an additional 56,316 shares during the period. Harbor Capital Advisors Inc. increased its holdings in FormFactor by 55.5% in the third quarter. Harbor Capital Advisors Inc. now owns 53,427 shares of the semiconductor company's stock worth $2,458,000 after purchasing an additional 19,065 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of FormFactor by 348.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 31,015 shares of the semiconductor company's stock worth $1,427,000 after buying an additional 24,100 shares during the period. Emerald Mutual Fund Advisers Trust grew its holdings in FormFactor by 2.9% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 478,170 shares of the semiconductor company's stock worth $21,996,000 after purchasing an additional 13,329 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of FormFactor by 876.0% during the 3rd quarter. New York State Common Retirement Fund now owns 323,387 shares of the semiconductor company's stock worth $14,876,000 after purchasing an additional 290,254 shares in the last quarter. Institutional investors own 98.76% of the company's stock.

Insider Transactions at FormFactor

In related news, CEO Mike Slessor sold 4,000 shares of FormFactor stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $45.28, for a total transaction of $181,120.00. Following the transaction, the chief executive officer now owns 530,276 shares in the company, valued at approximately $24,010,897.28. The trade was a 0.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.96% of the company's stock.

FormFactor Stock Down 4.6 %

FORM traded down $1.81 on Friday, hitting $37.88. The company had a trading volume of 461,376 shares, compared to its average volume of 587,491. FormFactor, Inc. has a 52-week low of $36.11 and a 52-week high of $63.63. The firm has a market capitalization of $2.93 billion, a P/E ratio of 22.81 and a beta of 1.12. The stock has a fifty day simple moving average of $43.63 and a 200-day simple moving average of $50.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.76 and a quick ratio of 3.94.

Wall Street Analyst Weigh In

FORM has been the subject of several recent research reports. TD Cowen decreased their target price on shares of FormFactor from $60.00 to $44.00 and set a "hold" rating for the company in a research report on Thursday, October 31st. StockNews.com downgraded shares of FormFactor from a "buy" rating to a "hold" rating in a research report on Tuesday, August 27th. Needham & Company LLC cut their price objective on FormFactor from $60.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Finally, DA Davidson lifted their target price on FormFactor from $55.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, FormFactor currently has an average rating of "Hold" and an average price target of $55.38.

FormFactor Profile

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.